3 Steps for New Venture Success
Opportunity knocks but once.
Nothing ventured, nothing gained.
Carpe Diem.
Just do it.
The early bird…well, you get the idea.
There are a lot of proverbs and sayings written to inspire us to act, yet reticence, hesitation and delaying tactics are often the order of the day. Talking to small business owners and aspiring entrepreneurs, I see this phenomenon all the time.
An attribute of the human instinct for survival is fear of the unknown. We all have it in varying degrees. For a few, it is easily overcome. For others, it takes a little effort. And for some, it is very difficult to venture into the unknown.
Where do you fall on that continuum?
If you’re among the group that needs to spend months thinking through any new venture, there’s a good chance that you are missing out on some excellent opportunities. The odds are also high that someone else will pick up on the opportunity that you forgo.
Have you every said yourself, or heard someone else say, “Oh, I had that idea years ago, but never did anything with it”?
There are a few steps you can take to help you blow past any fears that might prevent you from pursuing a potentially successful new business venture.
First, understand that failure is the “worst” thing that can happen. Unless your new business idea is to become a freelance tester of new parachute designs, the absolute worst thing that can happen is that the new venture won’t work out and you may lose a little money. Money can be replaced.
Second, understand that failure is a prerequisite to success. The point here is not to view failure as an end result, but as a necessary place to pass through on the way to your greatest successes.
I recently reviewed some survey results published by EMyth that looked at the traits of successful entrepreneurs. One of the most important traits for an entrepreneur is to be a “repeat offender.” In other words, when people get beyond their first business idea, they are much more likely to enjoy good success.
Third, take the first step. I’m not going to go hunting for them right now, but I’m sure there are also a lot of adages that say the first step is always the most difficult. This is because our “reason” and our “will” are always battling one another. Sometimes reason tells us to do something, but our will puts on the brakes. Other times our will pushes us to do things that our reason says are ill-advised.
If a new venture looks “reasonable,” don’t be thwarted by a balky will. Review the first two steps above and make the move. Once you complete the first step, the rest usually become much easier.
Now it’s your turn: Have any successes or failures you would like to share?
Image: David Benbennick, “Thumbs up,” © 2005, used under a Creative Commons Attribution-ShareAlike license: http://creativecommons.org/licenses/by-sa/2.0/